Och-Ziff Needs To Unload A Private Jet It Took A Loan Out To Buy While Facing Bribery Charges So It Can Pay The Justice Department To Settle Said Bribery Charges

Anybody? Anybody? You'd really be helping the hedge fund out in a big way. Don't say maybe, just say you'll think about it.

Asset manager Och-Ziff took out a $49m loan for a corporate jet when it was facing the possibility of a multimillion-dollar fine for alleged bribery of Libya’s Gaddafi regime and other African government officials. Since then Och-Ziff, one of the world’s largest hedge funds by assets, has been forced to borrow a further $120m to prepare for a cash settlement with the US Justice Department that is expected to exceed $200m — a sum more than double its last three years of net profits. The jet, which was paid for with a loan taken out in 2014, has been put up for sale by the hedge fund but has failed to find a buyer, according to people briefed on the process. Och-Ziff declined to discuss the aircraft purchase.

Hedge fund took out loan for private jet amid bribery inquiry [FT]